Net income climbed to 160.6 million pounds ($247 million)
in the year to June 30, from 115.5 million pounds a year
earlier, the London-based company said today in a statement.
Assets under management rose 42 percent to $35.3 billion in the
same period.

“They have delivered a good set of results beating both
our estimates and consensus,” said Sarah Ing, an analyst at
Singer Capital Markets Ltd. in London, putting her price target
under review. “The tone of the statement is also encouraging
because it is more upbeat than they have been in recent
months.”

Emerging-market stocks have outperformed advanced-country
shares this year because developing nations are growing twice as
fast, have more profitable companies and less debt. The MSCI
Emerging Markets Index climbed 19 percent in the 12 months to
June 30.

Ashmore dropped 1.5 percent to 314 pence in London trading
after Jon Moulton, founder of Alchemy Partners LLP., sold up to
half of his stake in the money manager, according to the terms
of the sale obtained by Bloomberg News. Moulton currently owns
20 million shares, or a 2.8 percent stake, according to data
compiled by Bloomberg. The company has gained 15 percent this
year.

“We believe we are steadily better positioned in emerging
markets investing and well set to deal with the greater
competition that a growing investable universe inevitably
brings,” Chief Executive Officer Mark Coombs said in the
statement.

Ashmore, which first sold shares in 2006, focuses on
emerging markets through local currency, distressed debt and
private equity funds. The firm plans to pay a full-year dividend
of 13 pence per share, up from 12 pence a year earlier.